Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Bit Digital, Inc. (BTBT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Bit Digital, Inc. is one of 316 individual stocks in the Business Services sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Bit Digital, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BTBT's full-year earnings has moved 2.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BTBT has gained about 260% so far this year. In comparison, Business Services companies have returned an average of 12.8%. This shows that Bit Digital, Inc. is outperforming its peers so far this year.
One other Business Services stock that has outperformed the sector so far this year is SoFi Technologies, Inc. (SOFI - Free Report) . The stock is up 48.2% year-to-date.
The consensus estimate for SoFi Technologies, Inc.'s current year EPS has increased 18.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bit Digital, Inc. belongs to the Technology Services industry, a group that includes 176 individual stocks and currently sits at #81 in the Zacks Industry Rank. This group has gained an average of 33.3% so far this year, so BTBT is performing better in this area. SoFi Technologies, Inc. is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on Bit Digital, Inc. and SoFi Technologies, Inc. as they attempt to continue their solid performance.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. Bit Digital, Inc. (BTBT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Business Services peers, we might be able to answer that question.
Bit Digital, Inc. is one of 316 individual stocks in the Business Services sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Bit Digital, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BTBT's full-year earnings has moved 2.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BTBT has gained about 260% so far this year. In comparison, Business Services companies have returned an average of 12.8%. This shows that Bit Digital, Inc. is outperforming its peers so far this year.
One other Business Services stock that has outperformed the sector so far this year is SoFi Technologies, Inc. (SOFI - Free Report) . The stock is up 48.2% year-to-date.
The consensus estimate for SoFi Technologies, Inc.'s current year EPS has increased 18.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bit Digital, Inc. belongs to the Technology Services industry, a group that includes 176 individual stocks and currently sits at #81 in the Zacks Industry Rank. This group has gained an average of 33.3% so far this year, so BTBT is performing better in this area. SoFi Technologies, Inc. is also part of the same industry.
Investors interested in the Business Services sector may want to keep a close eye on Bit Digital, Inc. and SoFi Technologies, Inc. as they attempt to continue their solid performance.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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